Nexi trembles over Sia in Russia?
Why does Nexi appear among the subsidiaries of Cassa Depositi e Prestiti that are at risk for some activities in Russia? Facts and rumors
Why is Nexi cited for the "most exposed assets" in Russia by Cdp Equity?
This is the question that some shareholders of the Nexi group, in view of the shareholders' meeting scheduled for today, May 5, 2022, are asking themselves after reading the 2021 financial report published in recent days by the Cassa Depositi e Prestiti group.
In the part ofthe 2021 financial report of the Cassa Depositi e Prestiti group on the "main companies of the CDP Group that have direct supply relationships of goods / services with the territories directly affected by the conflict, or that are exposed to indirect risks (effects on the valuation of equity investments , credit risk) "of the sanctions against Russia reads:
"With reference to the assets in the investee's portfolio, the monitoring activity identified Ansaldo Energia, the Inalca group (which has operating activities in Russia, albeit marginal, and which could suffer effects due to the increase in raw material costs and fluctuations exchange rates), Rocco Forte Hotel (present with two hotels in Russia), Nexi and Euronext (potential risk of cyber attack on the electronic payment system, considered a strategic infrastructure) the most exposed assets. At present, no factors of uncertainty have been identified as to the ability of the investee to continue to operate as a going concern ".
Why Nexi? Financial analysts are asking themselves in these hours.
According to what emerges from indiscretions filtering from stock exchange circles, the mention of Nexi concerning the Russian risks relating to the sanctions against Moscow would appear on some activities carried out by Sia, the former CDP company that merged into Nexi at the end of December 2021.
Sia – as the leaders of the past have pointed out with institutional interlocutors to support the idea of a systemic and international role of the company in view of the merger by incorporation into Nexi – has worked (and it is assumed that you still work now under Nexi's hat) on technological aspects of the Russian central bank system.
Or are there (also) other reasons?
(article being updated)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/nexi-sia-russia/ on Thu, 05 May 2022 09:35:15 +0000.